Ecometrica to cash in on stock market emission rules
A SCOTTISH firm whose “green” software has been used by companies as diverse as oil major BP and insurance giant RSA is pushing into London ahead of tough new emissions reporting standards that will affect hundreds of listed companies.
Ecometrica believes that the move into England will signal a major expansion of the business and allow it to tap a growing market for energy measuring software.
The Edinburgh-based firm has developed a web-based system that allows businesses to measure their greenhouse gas impact and adopt methods of reducing or offsetting it.
So-called carbon accounting is rapidly becoming a requirement for many bigger companies and is a prerequisite for most corporate social responsibility programmes. An estimated 1,800 companies listed on the London Stock Exchange now face having to report their greenhouse gas emissions on an annual basis.
Ecometrica chief executive Richard Tipper said it made sense to target twin markets.
“It’s the right time for expansion,” he said. “Many of our clients are around the London area and we also have a growing number of international clients.
“Demand is on the rise and one of the key factors is the announcement on the mandatory reporting requirements for companies on the LSE. We think that will affect about 1,800 to start with, and probably expand over time as these things usually do.”
Tipper said most firms were now gearing up for the reporting guidelines but expressed some concern about a lack of specific expertise within the advisory sector. He said accountancy firms needed to ensure they have the “capabilities and expertise” to measure and audit such emissions.
The firm, which earlier this year secured external investment in excess of £500,000, has appointed a senior sales director to oversee the London operation, Richard Morley.
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